LAS VEGAS, NV–(Marketwired – Jun 30, 2016) – Hemp, Inc.‘s (OTC PINK: HEMP) wholly owned subsidiary, Industrial Hemp Manufacturing, LLC, is in the final stages of completing its mill and decortication facility in North Carolina. David Schmitt, Chief Operating Officer (COO) of Industrial Hemp Manufacturing, LLC (IHM), said today, “Everything is on the fast track in Spring Hope to get the plant operational.”
Schmitt and IHM’s Director of Operations, Philip Boyer, were in Chicago, Illinois from June 21 – 22, 2016, to oversee the install of the new parts in one of IHM’s two mills. “The manufacturer of the mill is located in Chicago, so we sent our mill there to have it completely rebuilt to ensure there are no problems whatsoever. All the work has now been completed on one of the mills and is now in transit back to Hemp, Inc.‘s multipurpose hemp processing facility in Spring Hope, North Carolina.”
The mill, that is now complete, will be used to make Hemp, Inc.’s LCMs (loss circulation material), DrillWall™. The other mill has already been rebuilt and is also in the process of being installed.
On June 27, 2016, David Schmitt traveled to Wichita, Kansas, with the company’s engineering firm to visit the supplier of the air handling equipment needed for both of the mills. Per Schmitt, all of the engineering has been complete and the needed components are being manufactured. “We are expecting delivery in approximately thirty days.”
On June 28, 2016, Schmitt then traveled to Oklahoma to do a trial run for a potential new customer who is interested in Hemp, Inc.‘s (OTC PINK: HEMP) Kenaf material. The test also included a trial run with raw hemp which was very successful according to Schmitt. “Once the material is shipped back to Hemp, Inc.’s facility in Spring Hope, North Carolina, we will perform a complete analysis on the material to confirm that it meets the customer’s specifications. The potential for this one product could be in excess of one hundred million pounds per year.”
Earlier this month, IHM executives sent material to Volvo Trucks for analysis. The interior, of Volvo’s trucks, contains numerous components that can be made from hemp fiber. The auto industry has been using natural fiber in the production of automobiles for several years.
Industrial Hemp Manufacturing, LLC also contracted with local Spring Hope farmers to plant 420 acres of Kenaf. “When this is harvested (later this year), the crop will yield over 4,000,000 pounds,” said Schmitt. He expects to replace Kenaf with hemp next year.
Bruce Perlowin, CEO of Hemp, Inc. (OTC PINK: HEMP), said, “We are definitely proud of what we have accomplished thus far and we see great things ahead. Nothing can keep us from pushing forward. Our decortication plant is just about operational and our mills are just about up and running. It’s a process and whenever you embark upon a process such as this, there is bound to be unforeseen setbacks and obstacles. Once it’s operational, our loyal shareholders who have believed in us and who continue to believe in us can expect to see the fruits of our labor.”
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ABOUT INDUSTRIAL HEMP
Hemp is a durable natural fiber that is grown as a renewable source for raw materials that can be incorporated into thousands of products. It’s one of the oldest domesticated crops known to man. Hemp is used as a nutritional food product for humans and pets, building materials, paper, textiles, cordage, organic body care and other nutraceuticals, just to name a few. It has thousands of other known uses. A hemp crop requires half the water alfalfa uses and can be grown without the heavy use of pesticides.
Farmers worldwide grow hemp commercially for fiber, seed, and oil for use in a variety of industrial and consumer products. The United States is the only developed nation that fails to cultivate industrial hemp as an economic crop on a large scale, according to the Congressional Resource Service. However, with rapidly changing laws and more states gravitating towards industrial hemp and passing an industrial hemp bill, that could change. Currently, the majority of hemp sold in the United States is imported from China and Canada, the world’s largest exporters of the industrial hemp crop.
HEMP, INC.’S TRIPLE BOTTOM LINE
Hemp, Inc. (OTC PINK: HEMP) seeks to benefit many constituencies from a “Cultural Creative” perspective, thereby not exploiting or endangering any group. CEO of Hemp, Inc., Bruce Perlowin, is positioning the company as a leader in the industrial hemp industry, with a social and environmental mission at its core. Thus, the publicly traded company believes in “up streaming” a portion of its profits back to its originator, in which some cases will one day be the American small farmer — cultivating natural, sustainable products as an interwoven piece of nature. By Hemp, Inc. focusing on comprehensive investment results — that is, with respect to performance along the interrelated dimensions of people, planet, and profits — the triple bottom line approach can be an important tool to support its sustainability goal.
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